Royce & Associates LP Decreases Stock Position in Shoe Carnival, Inc. (NASDAQ:SCVL)

Royce & Associates LP decreased its position in shares of Shoe Carnival, Inc. (NASDAQ:SCVL - Free Report) by 9.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 463,853 shares of the company's stock after selling 50,499 shares during the quarter. Royce & Associates LP owned approximately 1.71% of Shoe Carnival worth $20,340,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Innealta Capital LLC acquired a new position in Shoe Carnival in the 2nd quarter valued at about $41,000. Everence Capital Management Inc. purchased a new position in Shoe Carnival in the third quarter worth approximately $224,000. Aigen Investment Management LP acquired a new stake in Shoe Carnival during the third quarter worth $237,000. Summit Global Investments purchased a new stake in Shoe Carnival in the second quarter valued at $244,000. Finally, EMC Capital Management lifted its stake in shares of Shoe Carnival by 11.9% in the 1st quarter. EMC Capital Management now owns 7,468 shares of the company's stock valued at $274,000 after purchasing an additional 793 shares during the last quarter. Hedge funds and other institutional investors own 66.05% of the company's stock.

Analysts Set New Price Targets

Separately, Williams Trading raised their price objective on Shoe Carnival from $42.00 to $51.00 and gave the stock a "buy" rating in a research report on Thursday, August 29th.

Shoe Carnival Price Performance

Shares of NASDAQ:SCVL traded down $1.55 during mid-day trading on Friday, reaching $35.38. 399,539 shares of the company were exchanged, compared to its average volume of 240,630. Shoe Carnival, Inc. has a 1 year low of $21.50 and a 1 year high of $46.92. The firm's 50-day simple moving average is $39.40 and its 200 day simple moving average is $38.70. The firm has a market cap of $961.27 million, a price-to-earnings ratio of 12.55 and a beta of 1.56.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.03. Shoe Carnival had a return on equity of 13.26% and a net margin of 6.26%. The business had revenue of $332.70 million during the quarter, compared to analysts' expectations of $331.45 million. During the same period in the previous year, the firm posted $0.71 earnings per share. The company's revenue was up 12.9% on a year-over-year basis. On average, research analysts forecast that Shoe Carnival, Inc. will post 2.65 earnings per share for the current fiscal year.

Shoe Carnival Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Monday, October 7th. Shoe Carnival's dividend payout ratio (DPR) is currently 19.15%.

About Shoe Carnival

Shoe Carnival, Inc, together with its subsidiaries, operates as a family footwear retailer in the United States. The company offers range of dress, casual, work, and athletic shoes, as well as sandals and boots for men, women, and children; and various accessories. The company also operates stores, and sells its products through online shopping at shoecarnival.com, as well as through mobile app.